Seoul, June 26
South Korea's trade watchdog decided on Thursday to impose anti-dumping tariffs on stainless steel plates from four Chinese companies, according to Seoul's industry ministry.
The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy 21.62 percent duties on stainless steel products imported from Schuang International Development Ltd., STX Japan Corp., Best Win International Co. and Jiangsu Daekyung Stainless Steel Co., all in China, for the next five years, the ministry said.
The decision came after South Korean steel company DK Corp. filed a complaint against the Chinese companies with the KTC a year ago, reports news agency.
The KTC concluded that the dumping of Chinese steel plates, widely used in the natural gas, shipbuilding, semiconductor and display sectors, has caused "substantial" damage to the local industry.
On Thursday, the KTC also held a public hearing on suspected damage to Korean companies from alleged dumping of Chinese sodium dithionite products and Thai particle boards before reaching a final decision on possible anti-dumping measures later this year.